Can I retire at age 56 with 605,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $605,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$49,960$49,515$49,081$48,657$48,244$46,812
2 years$24,733$24,272$23,826$23,393$22,973$21,542
3 years$16,325$15,862$15,417$14,988$14,575$13,190
4 years$12,122$11,660$11,220$10,798$10,395$9,067
5 years$9,600$9,142$8,707$8,294$7,902$6,634
6 years$7,920$7,465$7,036$6,633$6,253$5,046
7 years$6,720$6,269$5,847$5,453$5,085$3,940
8 years$5,821$5,374$4,959$4,575$4,219$3,134
9 years$5,122$4,679$4,271$3,896$3,553$2,527
10 years$4,563$4,124$3,724$3,359$3,027$2,060
11 years$4,106$3,672$3,278$2,923$2,603$1,693
12 years$3,725$3,295$2,909$2,564$2,256$1,400
13 years$3,403$2,978$2,599$2,264$1,967$1,164
14 years$3,128$2,707$2,336$2,009$1,725$971
15 years$2,889$2,473$2,109$1,792$1,518$814
16 years$2,680$2,269$1,912$1,605$1,342$684
17 years$2,497$2,089$1,740$1,442$1,190$576
18 years$2,333$1,931$1,588$1,299$1,058$486
19 years$2,187$1,789$1,454$1,174$943$410
20 years$2,056$1,663$1,334$1,063$842$347
21 years$1,938$1,549$1,227$965$754$294
22 years$1,830$1,446$1,131$877$676$249
23 years$1,732$1,352$1,044$799$607$212
24 years$1,642$1,267$966$729$545$180
25 years$1,560$1,189$895$666$491$153
26 years$1,484$1,117$830$609$442$130
27 years$1,414$1,052$770$557$398$110
28 years$1,348$991$716$510$359$94
29 years$1,288$935$667$468$325$80
30 years$1,232$883$621$430$293$68
31 years$1,179$835$579$394$265$58
32 years$1,130$790$540$363$240$49
33 years$1,083$748$504$333$217$42
34 years$1,040$709$471$307$197$36
35 years$999$672$440$282$178$31
36 years$961$638$412$260$161$26
37 years$925$606$386$240$146$22
38 years$890$576$361$221$133$19
39 years$858$548$338$204$120$16
40 years$827$521$317$188$109$14
41 years$798$496$297$173$99$12
42 years$770$472$279$160$90$10
43 years$744$450$262$148$81$8
44 years$719$429$246$136$74$7
45 years$695$409$231$126$67$6
46 years$672$390$217$116$61$5
47 years$650$372$204$107$55$4
48 years$630$356$191$99$50$4
49 years$610$340$180$92$46$3
50 years$591$324$169$85$41$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $605,000, adding $3,511 every year, while hoping to spend $25,357 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 26/47/27 Blend
55$605,000$605,000$605,000$605,000
56$670,332$638,267$628,889$682,024
57$711,726$642,562$622,977$696,146
58$756,492$646,218$616,017$708,882
59$804,948$649,177$607,948$722,024
60$857,443$651,376$598,704$735,623
61$914,359$652,750$588,217$749,736
62$976,118$653,230$576,417$764,432
63$1,043,185$652,740$563,230$779,784
64$1,116,068$651,203$548,577$795,880
65$1,195,330$648,535$532,377$812,816
66$1,281,587$644,647$514,545$830,702
67$1,375,519$639,445$494,992$849,660
68$1,477,873$632,829$473,626$869,830
69$1,589,472$624,693$450,348$891,369
70$1,711,221$614,926$425,057$914,452
71$1,844,116$603,408$397,648$939,277
72$1,989,255$590,014$368,008$966,064
73$2,147,845$574,610$336,022$995,062
74$2,321,215$557,056$301,568$1,026,549
75$2,510,829$537,202$264,521$1,060,835
76$2,718,298$514,889$224,747$1,098,267
77$2,945,397$489,952$182,109$1,139,232
78$3,194,080$462,212$136,462$1,184,163
79$3,466,498$431,482$87,655$1,233,542
80$3,765,022$397,566$35,533$1,287,907
81$4,092,261$360,253$0$1,347,858
82$4,451,089$319,323$0$1,419,847
83$4,844,673$274,542$0$1,510,132
84$5,276,498$225,664$0$1,609,340
85$5,750,406$172,426$0$1,718,444
86$6,270,628$114,555$0$1,838,519
87$6,841,823$51,760$0$1,970,757
88$7,469,125$0$0$2,116,477
89$8,158,189$0$0$2,285,552
90$8,915,244$0$0$2,500,828
91$9,747,155$0$0$2,737,500
92$10,661,481$0$0$2,997,732
93$11,666,552$0$0$3,283,909
94$12,771,544$0$0$3,598,660
95$13,986,568$0$0$3,944,878
96$15,322,763$0$0$4,325,755
97$16,792,401$0$0$4,744,803
98$18,409,004$0$0$5,205,895
99$20,187,469$0$0$5,713,299
100$22,144,212$0$0$6,271,714